Creditors' Rights

Creditors' Rights Lawyers

At Mitchell Pollack & Associates, our attorneys have experience asserting and enforcing the rights of creditors in loan transactions, sales or lease agreements, or any other defaulted debt. To learn how we can help you realize the benefit of your bargain, contact one of our lawyers in Tarrytown, New York, or Mahwah, New Jersey.

Our understanding of the law of debtor-creditor relations, together with our experience with credit transactions, can help you avoid difficulty with non-performing loans by protecting your interests on the front end. We make sure that the debtor is authorized to convey a mortgage or security interest, and that collateral schedules are accurate and regularly updated under the terms of the loan agreement. If a borrower's business takes a turn for the worse, your exposure to loss can be reduced through a cross-default clause, a right to accelerate performance, or a contractual right to demand further security. The sensible use of rights against third parties, such as guarantors, co-makers, or affiliates, can also help protect your rights as a creditor if default is imminent or has already occurred.

There are options even if your borrower threatens to file for bankruptcy protection. Our attorneys are skilled with troubled loan workouts that can help secure your position. When necessary, our knowledge of the laws with defaulted loans can help maximize the value to the creditor of collections litigation, repossession, foreclosure, and liquidation, both against the original debtor and any third parties who might be held liable for the default.

If your debtor does wind up in bankruptcy, our knowledge both of the law and the procedure in bankruptcy court can help preserve and realize your right to payment, especially if your collateral position remains sound.

Our practical approach to the protection of your rights as a creditor can help you avoid the risk of the debtor's non-performance in many situations. For additional information about our ability to protect your interests and liquidate your claim, contact an experienced debtor-creditor attorney at Mitchell Pollack & Associates.